As millennials (those aged 17-34) get older, their spending power will increase. It’s projected that this generation will collectively spend more than $200 billion in 2017, and $10 trillion in their lifetimes. Because of this, it’s increasingly important for brands to engage with and understand millennials.
And good news: millennial habits make it a bit easier to reach this generation because of the following two reasons:
- Millennials are connected 24/7: This should come as no surprise — millennials are more connected than previous generations. Eighty-five percent of them own a smartphone. Add in the always-evolving world of social media, and millennials are connected to family, friends and brands at all times.
- Millennials care less about digital privacy: According to research, only 20 percent of millennials worry about digital privacy. In the past, generations valued privacy more than receiving tailored communications, but the millennial generation has flipped that idea upside down.
To dive deeper into the millennial mind, Bluecore commissioned a study with NAPCO Research to find out how millennials want brands to engage with them. Here are three key findings that brands should remember when targeting millennial customers:
Email is King
Sixty-four percent of millennials surveyed find email to be the channel that feels the most personal, and 62 percent cite email as their prefer method of being contacted by brands (see the chart at right). This generation also checks emails primarily on smartphones, so make sure your content is optimized for those smaller screens.
The survey shows that personalization is a very important aspect of communication, and email best delivers it. However, retailers shouldn’t abuse email; make sure you keep the relationship personal by offering the right things at the right time. And, of course, don’t spam.
Embrace the Gmail Promotions Tab
The majority (61 percent) of millennials use Gmail for personal email. A few years ago, Gmail began separating email into tabs — primary, social and promotions — so that users could better organize their inboxes.
The promotions tab is where retailer emails are sent, and 70 percent of millennials surveyed actually use this tab. Use this information to create a successful email strategy. What subject lines will help your brand stand out, and at what time do consumers check this tab?
Social Media is for Friends and Family
As soon as a new social channel is developed, brands rush to it trying to connect with consumers and showcase new products. However, research shows that this may not be the best strategy. Thirty-three percent of millennials said they don’t use social media to learn about new products.
Furthermore, social networks are updating algorithms to make it harder for brands to connect with potential customers without paying to advertise. Owned media is the way to go when looking to control reach and message.
It turns out millennials aren’t so different from other generations. For a full look at how millennials compare to older and younger consumers, download the survey here.